Jessops to float on stock market

Jessops wants to capitalise on the digital photography boom

Jessops, the UK's largest photographic goods retailer, has announced plans to list on the London Stock Exchange.

Jessops said the boom in digital photography had boosted annual turnover, which was £287.1m ($513m) in 2003, an increase of 231% in six years.

The firm bought several established chains after a management buy-out in 1996, and now has 262 stores.

Founded in Leicester in 1935, Jessops was acquired by private equity firm ABN AMRO Capital in 2002 in a £116m deal.

Jessops has not set a price for the flotation but analysts are reported to believe the firm could be worth about £180m.

Jessops employs about 2,800 people across its stores, internet, and mail order divisions.

In August, Jessops introduced a service which allowed mobile phone users to send photographs from their camera handsets to the store for printing.

"Flotation will help increase our profile ...build on the success we have achieved to date and to capitalise on the digital revolution," said chief executive Derek Hine.

The shift away from traditional film has forced companies in the photographic industry to reposition their businesses, among them Kodak who announced plans in January to shed up to 15,000 jobs worldwide.